|Bid||0.00 x 0|
|Ask||0.00 x 0|
|Day's range||0.6400 - 0.6650|
|52-week range||0.5850 - 0.8970|
|Beta (3Y monthly)||2.14|
|PE ratio (TTM)||N/A|
|Earnings date||18 Feb. 2019 - 22 Feb. 2019|
|Forward dividend & yield||0.03 (4.39%)|
|1y target est||0.82|
The takeover of Fairfax, named after an English immigrant who bought the Sydney Morning Herald in 1841, creates Australia’s largest multimedia company with assets spanning television, radio, print and subscription streaming. The deal opens a new chapter for Australia’s first television station Nine, which was formerly owned by the billionaire Packer family and relisted in 2013 after a disastrous leveraged buyout and debt-for-equity swap. Fairfax’s big three mastheads, the Australian Financial Review, the Sydney Morning Herald and The Age have brought down corrupt politicians and union leaders, laid bare misconduct in the financial industry and exposed some of the worst cases of corporate excess.
The Federal Court has approved Nine Entertainment Co's takeover of Fairfax Media, despite opposition from former Domain boss Antony Catalano and Aurora Funds Management. At a hearing on Tuesday morning, shareholders were given an opportunity to oppose the scheme of arrangement to join the two media companies, which saw Mr Catalano and Aurora submit separate notices of appearance. One of the points of frustration for Mr Catalano was a decision by Fairfax not to delay a shareholder vote about the scheme on Monday last week.
Fairfax shareholders have voted in favour of the proposed merger with Nine Entertainment, after a late bid to save the Fairfax Media name failed.
Commonwealth Bank of Australia (ASX:CBA), Medibank Private Ltd (ASX:MPL), and Viva Energy Group Ltd (ASX:VEA) shares are in the news today. Here's why...
Fairfax Media shareholders have overwhelmingly voted in favour of a merger with Nine Entertainment, approving a deal to create Australia's largest media company. As Nine chief executive Hugh Marks, who will lead the new company, sat at the back of the scheme meeting on Monday, Fairfax investors voted 81.49 per cent of shares cast in favour of the merger, while 18.5 per cent were voted against. "The merger brings together two largely complementary businesses to create a diversified portfolio of media assets, comprising Fairfax's mastheads, Nine's FTA TV network, high-growth digital businesses including Domain, Stan and 9Now, as well as radio interests through Macquarie Media," Fairfax chairman Nick Falloon told the scheme meeting.
The ACCC has allowed the proposed merger between Nine Entertainment and Fairfax Media after concluding the deal would not substantially lessen competition.
The planned merger of TV and print media businesses Nine Entertainment and Fairfax Media has the backing of the Australian Competition and Consumer Commission (ACCC). Chair Rod Sims said the merger raised numerous "extremely complex issues, and will likely reduce competition" but in the end his organisation concluded that it wasn't substantial enough to breach the Competition and Consumer Act. Nine’s television operations and Fairfax’s main media assets generally do not compete closely with each other, the ACCC said, with Nine’s news and current affairs programs targeting "a mass market audience" while Fairfax’s "more in-depth coverage" was focused on a subscription audience.
Shares in Fairfax Media and Nine Entertainment have slumped ahead of their planned merger after Fairfax flagged a fall in revenue
When Malcolm Turnbull stepped into the Canberra winter chill and on to the podium in the prime minister’s courtyard at 1 p.m. on Thursday, most pundits thought he was about to quit. Turnbull also spoke about another document, one he hopes may save his career -- a letter referred to the nation’s top legal officer asking whether Dutton may actually be ineligible to remain in parliament. On Tuesday, hours after Dutton’s first attempt to win the leadership narrowly failed, an article was published by Fairfax Media alleging he could be disqualified from parliament over his business interests.
In this article, I’m going to take a look at Fairfax Media Limited’s (ASX:FXJ) latest ownership structure, a non-fundamental factor which is important, but remains a less discussed subject amongRead More...
Fairfax Media has booked a full-year net loss of $63.8 million, hit by impairment charges and restructuring & redundancy costs.
The merger of Nine and Fairfax will deliver a unique media business that reaches more than half of Australia each day, Nine says.
SYDNEY (AP) — Australian media companies Nine Entertainment and Fairfax Media have announced plans to merge, with the new media giant to be known only as Nine.